Active

4768 DR

SOQUEL CA, 95073

$1,395,000


$472.56 per sqft

Active

2,952 sqft

Commercial

Built in 1958

Listed by Main Street Realtors, Datta Khalsa, Listing Contact: 8318180181

Mid county investment opportunity on two premium lots in Soquel Village. This facility has 9 parking spaces on-site, with 2 handicapped spots, an ADA access ramp, rear loading dock, dual pane windows, 3-phase power, brick exterior, and received $50,000+/- in major plumbing updates in March 2022. Long term stable tenant. Although the cap rate may seem misaligned with current trends due to recent interest rate hikes, the property's long-term value is exceptional. Its sought-after location attracts business buyers and developers who prize its premium zoning. A nearly identical building next door at 4746 Soquel Dr sold for a similar price per square foot two years ago. Now a central office for a real estate company, it was chosen for its proximity to popular shops, restaurants, the county park, and the River Walk. This area's appeal is set to grow, with adjacent properties like 4768 Soquel expected to capitalize on open parking and park views. Current tenant has two 5-year lease extensions available and the current owners of 4768 Soquel enjoy a low tax base and solid income, making them unlikely to sell unless their asking price is met. It is because of these reasons that this investment is positioned as a premium opportunity relative to its current Capitalization Rate

ML81960519

MLS ID

April 8, 2024

Listed

November 22, 2024

Updated

Map

4768 DR
SOQUEL CA, 95073

Interior Features

Total Stories

1


Interior Features

Concrete


Floor Description

Concrete


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Natural Gas

Exterior/Building Features

Lot Size

0.32 Acres


Roof

Composition


Sewer

Public Sewer

Other Property Details

Area Name

Soquel


Garage

No


Parking

Off Street


Parking Total

5


View

No


County

Santa Cruz


Water Source

Public


Pool

No


Zoning

PF-GH

Listed by Main Street Realtors, Datta Khalsa,
Listing Contact: 8318180181 

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Data last updated 4:44 AM UTC, 11/22/2024

 

 

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